Jan 2, 2013 4:00pm EST
bounce after losing 40%, alexion and other biotechs rallying and consol energy and natural gas players among today's decliners with forecasts calling for warmer weather ahead. kohl's and other retailers lower after likely disappointing sales. and emc, disappointing fourth-quarter earnings, and continued pressure for watson phrma after the fda approved a generic version of its adhd drug. a lot of movement today, bill. >> ber, that thank you very much. >> sorry, we've been chatting here. >> bill is making an interesting point. got to look at strength within the market and pay attention to what signals we're seeing. >> and a very strong last few minutes of trading here for the bulls. >> anything to give pause, maybe it's what happened with the euro, not exactly participating. >> exactly. a huge first day of the year msnbc what for the rest of the year? someone who studies these types of things joins us next? >> also, billionaire investor wilbur ross joins us. we'll find out if a tax deal is changing his investment outlook and just what his plans are now that there's some certainty on taxe
Dec 31, 2012 4:00pm EST
. over the last tlie months you see negative pressure on earnings. that's led by energy sector and stocks. ex-financials. and what's also giving us a bit of pause heading into 2013 is the fact that these expectations are calling for about a 7% increase in earnings for next year which may not seem heroic on the surface, but it is a reacceleration from the 5% that we're going to post most likely in 2012. >> you have to think about fundamentals then. >> yeah. i'm worried a bit about that and the fact we're probably going to see a reset in earnings estimates in the next three or four weeks. because these negotiations, we're going to get some closure and resolution. it's still going to be a 1%, 1.5% fiscal drag. that's going to be an impact on earnings heading into 2013. >> rick santelli, what do you make of the reporting that john harwood just came out with a moment ago? what do you think that means? >> well, i found it a little bit curious. because here we are with mitch mcconnell and the vice president trying to work this out from a senate perspective. and the story is the house isn'